About this episode

Aldo Spanjer discusses the current state of commodity markets amidst ongoing conflict and the potential future of oil and gas prices.

The conflict remains in suspended animation with little concrete progress to support the more optimistic assessments of a return to normality. Commodity markets are on a knife-edge and tanks and strategic supplies are emptying. Aldo Spanjer, Head of Commodity Strategy at BNP Paribas’ Markets 360 outlines the pathways from here. Will oil be at $70 or $200? Why does gas face larger risks in a prolonged disruption? And how to cut through the noise and focus on the signals??

People in this episode

Host: Paul Chapman

Guest: Aldo Spanjer

Topics covered

• commodity markets
• oil prices
• gas risks
• conflict analysis
• market strategy

Keywords

• commodity strategy
• oil prices
• gas risks
• market analysis
• supply disruption

Mentioned in this episode

Organizations: BNP Paribas, HC Group

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• Unearthing Alpha with a Metals Hedge Fund, with Matt Heap · May 26, 2026 · 50 min
• Sulphurous Times with Meena Chauhan · May 12, 2026 · 43 min

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